Budget promises filip to infra projects in Maharashtra

First India Bureau

Mumbai: Deputy

Chief Minister Devendra Fadnavis, who is also the state’s finance minister, chose to read the Budget presentation from an iPad, rather than the conventional paper document, signalling the government’s push towards technology and infrastructure development.

On the ambitious project of Hindu Hriday

Samrat Balasaheb

Thackeray Maharashtra Samriddhi Highway, Fadnavis said 88% of the work is complete. The stretch from Nagpur to Shirdi, inaugurated by Prime Minister Narendra Modi in December, has so far been used by more than 10 lakh vehicles. Now this highway will be expanded, and a four-lane high- way will be constructed from the Sindkhedaraja node to Shegaon. A Technical and Financial Feasibility Report is being prepared for the 760km NagpurGoa Expressway, or Maharashtra Shaktipeeth Highway, from Pawanar to Patradevi in Sindhudurg district. Further, in order to reduce the traffic congestion in Pune city, the work of Pune Ring Road is going on at a cost of around Rs27,000 crore, he said.

A revised cost of Rs6,695 crore has been approved for the construction of the link between Khopoli and Khandala on the Mumbai Pune Expressway;

60% of this project has been completed.

The work of the coastal highway from Revas in Raigad district to Reddy in Sindhudurg district is underway, at an estimated total cost of Rs9,573 crore.

Further, 468km of road works will be undertaken at a cost of about Rs4,000 crore un-

Airports to be developed l `527.47 CRORE

SHIRDI AIRPORT TO GET A NEW PASSENGER TERMINAL AT A COST OF l A fund of `100 crore will be provided for the MIHAN project in Nagpur. Development works of airports at Belora in Amravati and Shivni in Akola are being undertaken. l `734 crore will be set aside to acquire land for the Chhatrapati Sambhajinagar Airport l PLANNING FOR THE EXPANSION OF NAGPUR INTERNATIONAL AIRPORT AND A NEW INTERNATIONAL AIRPORT AT PURANDAR IS IN PROGRESS.

Multi-nodal corridor

The 1% duty discount on stamp duty for women homebuyers is a move that is welcomed and revered by the real estate sector. This is a major step that will empower more women to become home buyers and thus address a long-due concern of gender disparity in the real-estate development sector.

Cyrus Mody, Founder and Managing Partner, Viceroy Properties

The State Budget shows promise in terms of economic development for various communities including by way of 3 lakh homes to be built this year, which will address housing concerns existing in the state. The 1 trillion dollar share of Maharashtra in the 5 trillion dollar Indian economy, as envisioned by the government, will see the real estate market as a solid contributor, owing to consistent demand from homebuyers, redevelopment projects, and commercial projects.

Ram

Raheja,

Managing Director, S Raheja Realty der Phase II of the Asian Development Bank project; while 7,500km road development works will be taken up at a cost of Rs90,000 crore under Part II of the Hybrid Annuity project.

Expenditure of Rs14,225 crore is proposed for roads and bridges in 2023-24.

THE 126KM MULTI-MODAL CORRIDOR FROM VIRAR TO ALIBAUG IS AN IMPORTANT ROUTE CONNECTING SEVERAL NATIONAL HIGHWAYS, NAVI MUMBAI INTERNATIONAL AIRPORT, JAWAHARLAL NEHRU PORT TRUST, MUMBAI TRANS-HARBOUR PROJECT, DELHI- MUMBAI DEDICATED FREIGHT CORRIDOR AND REVAS PORT. THE CORRIDOR INCLUDES BUS RAPID TRANSIT, METRO RAIL, WATER SUPPLY LINES, GAS LINES AND SEWAGE LINES. THE EXPECTED COST OF THE PROJECT IS RS40,000 CRORE, AND THE WORK OF PREPARING A DETAILED PROJECT REPORT AND FINANCIAL PLAN IS UNDERWAY.

The Maha budget was well in line with the infra push announced in the Union Budget. The move towards boosting the infrastructure and connectivity will open up opportunities for various segments of real estate developments comprising residential, retail, commercial and warehousing. The connectivity boost will drive the rise of new real-estate micro-markets, resulting in the emergence of new epicentres of Mumbai and MMR.

Nitin Bavisi, CFO, Ajmera Realty & Infra India